Canopy Growth Corporation (NASDAQ:CGC) shares, rose in value, with the stock price down by -3.01% to the previous day’s close as strong demand from buyers drove the stock to $8.70.
Actively observing the price movement in the last trading, the stock closed the session at $8.97. The value of beta (5-year monthly) was 2.03. Referring to stock’s 52-week performance, its high was $19.20, and the low was $2.76. On the whole, CGC has fluctuated by 20.33% over the past month.
With the market capitalization of Canopy Growth Corporation currently standing at about $792.66 million, investors are eagerly awaiting this quarter’s results, scheduled for Jun 20, 2024 – Jun 24, 2024.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that CGC’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CGC currently trading nearly 1.72% and 53.50% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 57.57, while the 7-day volatility ratio is showing 10.79% which for the 30-day chart, stands at 16.94%. Furthermore, Canopy Growth Corporation (CGC)’s beta value is 1.33, and its average true range (ATR) is 1.09.
A comparison of Canopy Growth Corporation (CGC) with its peers suggests the former has fared considerably weaker in the market. CGC showed an intraday change of -3.01% in last session, and over the past year, it shrunk by -32.03%%.
Data on historical trading for Canopy Growth Corporation (NASDAQ:CGC) indicates that the trading volumes over the past 3 months, they’ve averaged 11.59 million. According to company’s latest data on outstanding shares, there are 91.11 million shares outstanding.
Nearly 28.90% of Canopy Growth Corporation’s shares belong to company insiders and institutional investors own 6.74% of the company’s shares. The stock has risen by 70.25% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CGC stock heading into the next quarter.
